North Lauderdale FHA Loans

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North Lauderdale Florida FHA home mortgage loans allow you to obtain an easy home mortgage loan for your house. The United States federal government insures these home mortgage loans via the FHA to ensure home owners to obtain home mortgage loans with limited conditions and to provide security to the mortgage lender. If a borrower doesn’t pay his commitments, the mortgage insurance covers the loss of the bankers.

Pros of North Lauderdale FHA Home Mortgages

With a minimal down of only 3.5% and its flexible terms of borrowing, North Lauderdale FHA home mortgage loans are one of the best options for FTHB today. Even individuals with bad credit scores can simply opt for a North Lauderdale FHA home mortgage loan.

Drawbacks of a North Lauderdale FHA Loan

With the benefits of easy access comes the disadvantages that you will have to pay a little more on your regular home mortgage loan payments to make up for the Mortgage Insurance.

Necessities to Get Qualified for an FHA Mortgage

In order to meet the requirements for a North Lauderdale FHA mortgage, you need to be a legal citizen of the Unites States with a steady job. In addition, as the FHA only approves selected bankers for their home mortgage loan insurance, you can not apply online for a North Lauderdale FHA home mortgage loan from every mortgage lender. Even after you find the right home mortgage loan from every mortgage lender, an FHA home mortgage loan is only acceptable if the property you wish to purchase has been approved by the department of Federal Housing Administration.

Maximum Loan Amounts of a North Lauderdale FHA Home Mortgage

The limits of the loan amount vary from state to state and county to county, however, the standard max home mortgage loan amount is approximately $625,000.

How to Obtain a North Lauderdale FHA Mortgage?

If you wish to obtain a North Lauderdale FHA mortgage, contact us at the First Nationwide Lending, where we can provide you with more information regarding these home mortgage loans and clarify your query to simplify the process of buying your new home.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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